Can the music industry in Detroit save the city from the struggles of the American industry, the the town's bankruptcy and its $18 billion debt? No, unfortunately, probably not. But music is one of the most successful markets in Michigan's largest city, a report by the Anderson Economic Group found.
The report found that music-based enterprises -- including concert venues, recording studios and record stores -- employed more than 6,000 employees, who earned upwards of $162.5 million during 2012. That's an average of more than $27,000 a year. Not quite overwhelming wealth, but nearly double the average yearly earnings of a Detroit resident, less than $14,000.
The total earnings of Detroit's 486 music-related businesses: $1.15 billion dollars. Again, not exactly bringing the city the kind of bread General Motors is pulling, but at the same time the music industry is remaining resilient in the changing market, whereas the automotive industry less-so.
Detroit is best known for the rise of Motown records during the '60s and '70s, turning out hit soul and R&B records from artists such as Marvin Gaye, Stevie Wonder and Diana Ross & The Supremes. The company relocated to Los Angeles in 1972, and the genres it specialized in took a fall from their relative popularity. During the late '90s, Detroit hip-hop saw an increase in attention with the rise of Eminem. The attention brought to the hip-hop scene has resulted in the rise of more Michigan rappers including Big Sean, Danny Brown and Royce Da 5'9", as well as artists interested in recording with producers from the city. Eminem's visage has become internationally tied to the city thanks to the film "8 Mile."
"Music is part of Detroit's brand," said AEG CEO Patrick Anderson. "It's easy for us here in Michigan to forget, but if you go to Europe or Asia and have a Detroit D on your shirt, they have a recognition that's sometimes deeper than we have."
